Melrose Project

Melrose Ni-Cu-PGE Project

Dalwallinu, Western Australia

The Melrose Ni-Cu-PGE Project is located in the West Yilgarn Province of Western Australia, originally discovered and defined by Chalice (ASX: CHN) in 2019. The Exploration Licence consists of a 169 km2 tenement, approximately 250 km north of Perth, close to major transit routes with established population centres making it well serviced for mining skills and equipment. The Project area hosts historical gold production, such as the Pithara gold deposit, discovered by IGO (ASX:IGO) in 2005. Cauldron has also pegged a large area immediately west and south of the Melrose Project area covering a further ~1,338 km2 containing nickel and copper prospects interpreted to be on the same structural trend.

image 26
Cauldron Energy - Icon - Green

Melrose holds the south part of the magnetic anomaly along the Barrabarra Greenstone Belt that Chalice is exploring at their Barrabarra Ni-Cu-PGE project.

Cauldron Energy - Icon - Green

Melrose is the only project that returned Nickel from shallow air core drilling, ranging between 0.20% to 0.47% Nickel, from drilling done by IGO in 2006.1

Cauldron Energy - Icon - Green

Inversion modelling results of an aerial magnetic survey imply a strongly magnetic body at priority drill Target 01

Cauldron Energy - Icon - Green

Potential gold mineralization extensions from the Pithara open cut remain untested at Melrose.

Cauldron Energy - Icon - Green

Has potential for both Tholeiitic and Komatiite Ni-Cu-PGE styles of deposit.

(1) ASX Announcement: Option Over Melrose Project
(Dalwallinu, WA) - 11 May, 2023

Significant Magnetic Anomaly

Inversion modelling results of an aerial magnetic survey at Target 01 imply a strongly magnetic body, about 1km long and up to 300m wide lying between 110m and 160m below ground surface, and approximately 60m directly beneath, and coincident with, shallow historical air-core drill holes which returned elevated levels of nickel and copper.

imgpsh_fullsize_anim (4)

3D view of the inverted magnetic anomaly at Target 01, including the air-core drill holes and original magnetic survey image before inversion (shaded).

Cauldron plans for an aerial EM survey over the entire Project area as the next stage to better define targets, and to help identify new targets for future drilling.

Melrose Drill Targets

Cauldron has established four immediate, highly prospective drill targets. These are intended to explore the high-quality foundation asset and offer with significant potential for growth. Planning for this drill campaign is presently underway.

image 16

Target 1

One line of previous Air Core drilling has been drilled across this strong magnetic anomaly extending over 2km in length north-south and 300m east-west. Highly anomalous drill results included:

  • 19m @ 0.32% Ni from 17m downhole, incl. 4m @ 0.41% from 25m (hole DTR937), and
  • 4m @ 0.47% Ni from 25m downhole (hole DTR936)
image 20

Target 2

One previous hole intersected 12m @ 0.26% Ni from 32m downhole (hole DTR850)

image 17(1)

Target 3

Two parallel magnetic anomalies extending over 3km each north-south, with only the eastern one tested by previous Air Core drilling. Best results were:

  • 3m @ 0.19% Ni from 42m downhole (hole DTR931)
  • 2m @ 203 ppb Au from 36m downhole (hole DTR466)
image 19

Target 4

A large and complex magnetic anomaly extending over 3km with anomalous previous drill results:

  • 2m @ 0.13% Ni and 213 ppm Cu from 36m downhole (hole DTR466)
  • 8m @ 536 ppm Ni from 36m downhole (hole DTR417)
  • 2m @ 749 ppm Cu from 48m downhole (hole DTR407)